ANZ Bank New Zealand with their own monthly NZ inflation measure.
- +0.4% m/m in December
- + 2.8% y/y
Underlying Ex-housing Gauge 0.1% m/m & up 1.1% y/y
Remarks:
- Path of inflation from here is not clear
- Housing has been driving what non-tradable inflation there is
- Housing market has now slowed
- ... but rents are rising "and they have a hefty weight in the CPI"
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Earlier on today we got the Stats NZ measure of